Equities Sustain Hold, Rise By 0.7%

Strong half year earnings reported by some companies this week on the Nigerian Stock Exchange has continued to reflect in the value of stocks.

Specifically, the All Share Index which dropped throughout last week rose further yesterday by 0.65 per cent to close at 37,806.45 points, compared to the increase of 1.11 per cent recorded the preceding day to close at 37,562.50 points.

Market capitalisation rose by N78bn to close at N11.973trn, lower than the rise of N132bn recorded the preceding day to close at N11.895trn.

The Industrial Goods index led the sectorial indices with 2.39 per cent to close at 2,341.25 points, followed by Lotus Islamic index with 1.52 per cent to close at 2,673.74 points.

The Consumer Goods index appreciated by 1.32 per cent to close at 1,067.65 points, while the NSE 30-index increased by 0.72 per cent to close at 1,771.56 points.

The Banking index, Insurance index added 0.23 per cent to close at 404.83 points and 140.95 points respectively, while the Alternative Securities Market remained flat at 965.70 points.

Champion Breweries Plc led the gainers table with N1.21 or 10 per cent to close at N13.31 per share, followed by Stanbic IBTC Plc with N1.55 or 9.95 per cent to close at N17.13 per share.

Pharma Deko Plc rose by 18 kobo or 9.73 per cent to close at N3.03 per share, while IPWA Plc increased by nine kobo or 7.83 per cent to close at N1.24 per share. Courtville Plc was up by five kobo or 7.14 per cent to close at 75 kobo per share.

On the flip side, Airservice Plc lost 48 kobo or ten per cent to close at N4.32 per share, while Transnationwide Express Plc fell by 13 kobo or 9.85 per cent to close at N1.19 per share.

IHS Plc dipped by 27 kobo or 9.82 per cent to close at N2.48 per share, while Vono Products Plc declined by 13 kobo or 9.35 per cent to close at N1.26 per share.

Red Star Express Plc depreciated by 40 kobo or 8.25 per cent to close at 4.45 per share. A total of 315.6 million shares valued at N3.45bn were exchanged in 5,915 deals.